Hybrid View

SIRI Daily Thread......... Thursday, May 9, 2013

No one's awake yet so I'll start the thread for today. I'll be back in a moment with a suggestion for a stock to watch, with what I feel will be an attractive entry point real soon.

EDIT. Okay here goes my stock pick.

I've been watching AMD lately as it seemingly has taken new life in the investment arena. What I see in the chart is a looming correction down to the 50% Fibonacci at $3.10 as it seems poised to bounce off of the upper trend line. RSI is extremely overbought at around 90, so I'm thinking a strong correction is in the making. Once that correction has happened, I see a very positive sign of a Golden Cross forming (50dma ascending the 200), which typically signals a strong upward surge. I personally will be ready to take advantage.

can someone explain to me in a simple sentence or two how RSI works? The way I understand it, the higher it is the more likely a sell off is and the lower the more likely a price jump. However, what else needs to be taken into consideration with that when trying to make a decision?

can someone explain to me in a simple sentence or two how RSI works? The way I understand it, the higher it is the more likely a sell off is and the lower the more likely a price jump. However, what else needs to be taken into consideration with that when trying to make a decision?

IKN, I've not seen a single stock oscillator or such tool which can adequately be explained in a sentence or two. I find as an excellent reference the ChartSchool section of Stockcharts.com where you can read the following on all they have to say about RSI:

Good morning to you also, Denco. Sorry to see the Spurs take a dump last night. (Actually, I didn't see the end but I guess the writing was on the wall when I turned it off in the 2nd quarter.

On another front, recall that I have been touting Green Mountain Coffee Roasters (GMCR) as one of those stocks where AAPL money went (when Apple took a dive). Check out the headlines this morning on GMCR:

"Green Mountain Coffee Roasters Inc.
NASDAQ: GMCR - May 9 10:17am ET

71.17+11.69‎ (19.65%‎)"

Now that was one very fortuitous stock tip which I heeded a few weeks ago. They don't happen like that too often.

A Post for Midas, RAD, and anyone else who trades the "Mary Jane" equities...

National Public Radio/Public Radio International did a lengthy segment on legalizing MJ. The broadcaster (sounded like Warren Olney- recognized his voice cuz he used to do TV news in Los Angeles) interviewed Congressman Broomehauer (name sounds like a character from Hogan's Heroes).

Didn't get to hear the segment myself due to a cell phone call (was in my car). However, the segment did last 10-15 minutes. It may be worth trying to find this segment on the NPR/PRI website and ' take a listen.' It aired May 8 at Approx 1:30-1:50 PST.